ATLANTA, Sept. 22, 2014 /PRNewswire/ -- PGi (NYSE: PGI), a global leader in collaboration software and services for over 20 years, today announced the acquisition of TalkPoint Holdings, L.L.C., a leading provider of webcasting software and services. PGi funded the purchase through its recently increased credit facility and cash and equivalents on hand.
"We are thrilled to welcome the TalkPoint team to the growing PGi family," said Boland T. Jones, PGi founder, chairman and CEO. "TalkPoint's award-winning technology strengthens PGi's suite of collaboration software and services and furthers our mission to help businesses improve productivity, accelerate innovation and increase revenue growth. The acquisition positions PGi as a clear leader in the high-growth, $500-plus million webcasting market."
"With the acquisition of TalkPoint, PGi is doubling down on its strategy to deliver an array of high-quality business communications solutions that make it possible for users to engage at their desks, on their mobile devices or in conference rooms," said Steve Vonder Haar, Senior Analyst, Wainhouse Research. "TalkPoint's impressive growth and strong go-to-market strategy have made it a success in the web event services market, and this deal helps PGi expand on its established position as a leading provider of one-to-many webcasting services."
Based in New York City, TalkPoint has operations in North America and the United Kingdom and a current projected annual revenue run rate of approximately $18 million. Its cloud-based Convey™ platform provides self-service and fully managed audio and video webcasting for events with up to 10,000 attendees. TalkPoint's technology works with a user's existing telephone, webcam, video conferencing room or video encoder, with no special hardware needed. TalkPoint webcasts work through a standard Internet browser on any desktop, tablet or mobile device with no downloads required. Today, TalkPoint enables more than 300 enterprises, including many of the world's largest financial services, pharmaceutical and publishing firms, to host internal town hall meetings, demand generation webinars and other mission-critical communications to large audiences.
"We have long admired PGi's customer-first mentality and commitment to innovation," said Nick Balletta, CEO of TalkPoint. "As business continues to become more and more global, TalkPoint customers and partners need webcasting solutions that enable them to communicate and collaborate effectively anywhere in the world. With PGi's global delivery, customer care and sales distribution, TalkPoint's growth opportunities increase exponentially."
PGi anticipates the acquisition of TalkPoint will be accretive to non-GAAP diluted earnings per share. PGi plans to provide a revised financial outlook for 2014 when it releases its third-quarter results.
About Premiere Global Services, Inc. │ PGi
PGi has been a leading global provider of collaboration software and services for over 20 years. PGi's cloud-based software applications empower business users to connect, collaborate and share ideas and information from their desktop, tablet or smartphone, enabling greater productivity in the office or on the go. PGi has a global presence in 25 countries, and its award-winning solutions provide a collaborative advantage to over 45,000 enterprise customers, including 75% of the Fortune 100™. In the last five years, PGi has hosted more than 1.1 billion people from 137 countries in over 250 million virtual meetings. For more information, visit PGi at pgi.com.
Statements made in this press release, other than those concerning historical information, should be considered forward-looking and subject to various risks and uncertainties, many of which are beyond our control. Such forward-looking statements are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and are made based on management's current expectations or beliefs as well as assumptions made by, and information currently available to, management. A variety of factors could cause actual results to differ materially from those anticipated in PGi's forward-looking statements, including, but not limited to, the following factors: competitive pressures, including pricing pressures; technological changes and the development of alternatives to our services; market acceptance of PGi's SaaS products, including iMeet® and GlobalMeet®; our ability to attract new customers and to retain and further penetrate our existing customers; our ability to establish and maintain strategic reseller and distribution relationships; risks associated with challenging global economic conditions; price increases from our telecommunications service providers; service interruptions and network downtime, including undetected errors or defects in our software; technological obsolescence and our ability to upgrade our equipment or increase our network capacity; concerns regarding the security and privacy of our customers' confidential information; future write-downs of goodwill or other intangible assets; greater than anticipated tax and regulatory liabilities; restructuring and cost reduction initiatives and the market reaction thereto; our level of indebtedness; risks associated with acquisitions and divestitures; indemnification claims from the sale of our PGiSend business; our ability to protect our intellectual property rights, including possible adverse results of litigation or infringement claims; regulatory or legislative changes, including further government regulations applicable to traditional telecommunications service providers and data privacy; risks associated with international operations and market expansion, including fluctuations in foreign currency exchange rates; and other factors described from time to time in our press releases, reports and other filings made with the Securities and Exchange Commission, including but not limited to the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2013. All forward-looking statements attributable to us or a person acting on our behalf are expressly qualified in their entirety by this cautionary statement. We do not undertake any obligation to update or to release publicly any revisions to forward-looking statements contained in this press release to reflect events or circumstances occurring after the date of this press release or the date of the statement, if a different date, or to reflect the occurrence of unanticipated events.
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